Meaning & Definition of word "Nonprofit"
Nonprofit
/nɒnˈprɒfɪt/
noun:
- 1. A nonprofit organization is one that is not intended to make a profit and uses its surplus revenues to further achieve its purpose or mission.
- Example: The local animal shelter is a nonprofit dedicated to rescuing and caring for abandoned pets.
- 2. A type of organization where profits are not distributed to owners or shareholders but are used to support the organization's objectives.
- Example: She works for a nonprofit that focuses on providing educational resources to underprivileged communities.
- 3. An organization that operates for a purpose other than making a profit, typically in the fields of charity, education, or social services.
- Example: The nonprofit received a grant to fund their community health programs.
adjective:
- 1. Relating to an organization that does not operate for the purpose of profit.
- Example: She volunteers at a nonprofit organization that provides legal aid to those in need.
- 2. Describing activities or initiatives that aim to benefit the public or a specific community without generating profit.
- Example: They hosted a nonprofit event to raise funds for disaster relief efforts.
- 3. Pertaining to entities whose goals are not financial gain but rather social, educational, or charitable outcomes.
- Example: The nonprofit sector plays a crucial role in addressing issues such as poverty and health care.
Etymology
●The term 'nonprofit' combines 'non-' meaning 'not' and 'profit', relating to the financial gain.
Common Phrases and Expressions
nonprofit sector:
The part of the economy concerned with organizations that are not driven by profit.
nonprofit organization:
An organization that operates for a purpose other than making a profit.
nonprofit status:
A designation given to organizations that meet specific criteria set by governing authorities.
Related Words
charity:
An organization set up to provide help and raise money for those in need.
foundation:
An institution set up to provide financial support for charitable purposes.
volunteer:
A person who freely offers to take part in an activity, particularly in a nonprofit context.
Slang Meanings of nonprofit
Meaning: Nonprofit rockstars
● Example Sentence: People who work tirelessly to support a cause are often referred to as nonprofit rockstars.
Meaning: Doing good
● Example Sentence: Many young professionals seek jobs in nonprofit sectors because they want to be doing good.